That is very similar to the rub I use on my butts, but a lot less sugar and no chili powder:
1/4 cup Black Pepper, fresh cracked
1/4 cup Paprika
1 /4 cup Turbinado Sugar or Brown Sugar
2 Tbsp. Salt, Kosher
2 tsp. Mustard, dry
1 tsp. Cayenne pepper
(Makes enough for one 6 - 8 lb. Boston Butt)
It comes out great. I also apply the rub the night before, wrap it tightly with plastic wrap, place on a rimmed baking sheet, and into the refrigerator overnight. Before placing it into the smoker I will add one more layer of rub, but you rub has so much sugar I wouldn't add an additional layer. I like to pull the whole butt at one time. It's easier to pull while warm, plus if there is some to store, you can package it the way you want (such as serving size), vacuum seal, and freeze. That way it is ready to reheat when you want a quick meal. Pulled meat is one of those dishes that are easy to add moisture to.